BONESUPPORT Raises SEK120M
BONESUPPORT, a Lund, Sweden-based medical technology company that specializes in the development of high-tech solutions for the treatment of vertebral compression fractures and other osteoporotic fractures, has raised SEK120m (approximately $19m; €13m) in funding.
Investors include Industrifonden, which committed SEK40m, and existing backer HealthCap.
The company intends to use the funds to continue to expand and further develop its pipeline of products, which include CERAMENT™, a ceramic-like material that remodels into bone and heals fractures. The product, which is non-toxic and tissue-friendly, can be used in e.g. vertebral compression fractures or to reinforce an osteoporotic femoral neck.
Ongoing product development includes prophylaxis of hip fractures and combination with antibiotics for prophylaxis or treatment of orthopedic infections.
Founded in 1999 by CEO Lars Lidgren, BONESUPPORT has over 30 employees and is headquartered at Ideon Science Park in Lund, Sweden with subsidiaries in the United States, Netherlands and Germany.